New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-02-03
FINANCE IN THE SENATE.
MR. ALLISON DOES SOME FIGURING.
WILL THE SURPLUS EXCEED Sl5.OoOOoO1-MR.
TELLER CALLS FOR COAST DEFFNoEs.


the Committee on Appropriations, said in the Senate
today that the Senator from Connecticut ,Ir Platt
had inoured of him yesterday whether or not there
voulI be a surplus in the Treasury In case Congress
made appropriations this session In accordance with
the estimates OF tho departments In his lair. ALI
son'sl desire TO complete tie bill last night he had
failed to answer that inquiry as fully IA he might
have done The regular estimates OF the Depart
mrpts "a suhm;tei by the secretary OF tho treasury
amonn, ed I'm round nun bers) 1915 600 000 Since
that time there had been supplementary and otbcr es
Inmates amounting to eonsideraoie SUN noo 900 o ok
carry out the provisions OF the Menran Pension bill
No estimate had been yet submitted as to the as
obltie. Pension ball which both Houses had passed
hut ghiob had not vet received tho signature OF the
President IL was safe to assume however, mat
ST. 900 900 So 600 600 would be required ior ,hat
nurpose Then there had been already submitted es
tmates for deficiencies amounting 10 $1,OOoOOo
more So that the total OF the estimates Tor the next
fiscal year without nead I'M nS m hnuat sac
To assume however, that Congress would not appro-
pirate fully up to the es'iT ae' ne revenues are
coniecturii necessarily. Curiously enough, perhaps
naturally enough the Secretary OF the treasury TINS
wear makes no esim ates Of the revenue IL has been
The custom of former Secretaries OF me treasury 20
make estimates The Secretary OF the treasury Il not
honnd by law TO make these estimates. 30 that we
can have no actual guide as to what the revenue VIII
be either for the year or for the next scai
Gar rSeeot from the estimates made last year and
from the receipts up to the first OF January ooo In
Mr.. Platt-Do these estimates OF soo2,UuootVo III
oiue a Tbex include 1000 900 Tor tortifca
tons The total Navy estimate IL $2O,0OoOVo, 90
het assume that these estimates do not include what
We would regard a. sufficient expenditure Tor coast
deences or Tor the Navy il We should enter on that
subject 49, 80. -, tu,,soo.io,s oro nrac-
Wr Wilson Of Iowa-Does this 1895, 600 600 include
the amount that TO lie laid aside lot the snAins u
Mr. AllIson-That Is included ., ,.
Mr. Platt-So that il Congress should deem II neces
sary to expend larger sum than LOT coast
deleDces that larger sum WOULD ihcreaso 'ho os'
Mr Ailison-Yes; and if we should appropriate more
than tor hS f S based by tie House
does appropriate 500, 100000. Now, az TO the re-
cepts the next fiscal year des G n 900 as
stated by ne secretary Of the Treasury in his report
and by the President in his message But that docs
not include the receipts from p9s deo o@1 por the
year $50 the postal revenue WAS S44,OOOOUo' so
that the receipts for the year
estimates tina, the postal revenues Will be
$50 600. 600 think in view OF the actual receipts
Of last year ,ha: that Is hg estimate 10 mot Tv
that they WILL and assuming that the ordinary reVe
nues of the Go, eminent are what they were last ear
1896 900, 900 then wo have IN round nun nun a
S3S6 600 600 as the gross receipts tor the fiscal year
iss7s. These receipts will not 10 added TO except
from duties imports The customs receipts iCr INC
months OF this fiscal year they amount 10
600 600 so that there has been an increase oi
81 u. 900 and II ODO,OOo III inc hrst ~
months OF this year compared tn Tho same perod
last wear Assuming that that increase coh'lues
throus bout the fiscal year, the amount from customs
duties TOR the current lear VIII DO S%it'vVoo'gV,
The total receipts OF for the FIRST hai OF thi'
fiscal year amount TO TlSOOOo,OOo 10 th"t ~ ''at
rate continuesl we will have total revenue oil
$3.50 600 900 for this current year rs compared WIN
$3.50 600 900 for the last fiscal YEAR In the"o est
mates Tor the current year do not include postai
receipts nor are they included ia the S53O'OUVUuU
for Last year SO that we Will have TSoo. ~
of receipts and an expenditure Of S3Jo'oooVVo.
Add the estimated postal revenue, ana the receipts
will be SilO,O0OOOO. lhs viii mako the surplus
bciag the question asked hy the Senator from 'onnec-
ticnl 81 3 900 600. II We comply with the law IN re-
latlon TO the Sinking Fund then We are compeleu 70
buy bonds in the open market either ~ or per CENT
bonds or the currency SKIES issued TO IN" racine
Railroads. ar, 80
COMP, with the Sinking Fund law" Il not ina, law
i,nneratiyeI Can there be any question but that the
Government will provide according TO Ia" LOT 'ho
M Allison There f. n question whether tho Govern
meut Is bound TO purchase its own bombs III inc open
market at large premium tor tue purpose oi comply
49,, i,b IN. sinking fund requirement while In TACT
tbe TinLins fund !. now over t3OOOOO,0o0 in excess
Nj TferNThe Sinking Fund provides not for
total amount but for 30 much each year
Mr. Ali-on-in nv judgment inc ,rr- ~" 80
uurcpase AZ "A premium bonds that are not yet que
While admit that the letter oi tho law requires mo
seit NJ ART OF one per cent OF the oi u'p' Ga
ycar Still that is requirement which can be sel aside
MI piat1 / am glad to have listened TO this very
re! Tor the net hrcsl year understand
tom 4 that if Corstc.s makes the APPROPRIATIONS tal
AFRO really needed according - tho estimates sub
r,,ttot by the Depa tiurut- there Will not be aur
tlus of receipts and above expenditures likely 10
| 80 40 200 600 AT the very OUTSIDE. Nov II
are not To have Tor the next fiscal year surplus eK-
Gee ling $40 OOO, 900 want TO be teckOned IA M
opponcnt Of any scheme that will lessen that surplus
and DO not tbs Congress 70 adjourn until II has
provided in some way, that a sum sqsal or nearly
cqua to $50 100000 .hall be Immediately available
TO commence system OF coast deiences think that
Congress viii be negligent OF it, duty, VII be justly
and severely crticisoI 10y tho people, VIII have for
gotten the best intercsts of the country, # it shall adj
journ without having made such provision
| speech In Tho Record tomorrow and would then
see whether it should DO replied TO. But be thought
that the Senator was mistaken as 70 the estimates oil
| expenditures running mp TO Sy'6OOOOOO.
Nr Allison remark cd that the estimates in the Book
of Estimates amounted in round numbers to
| n371 OOO, 900.
Mr. Beck~I have 1t in my Book of Estimates
Mr.. Alilson~But that statement does not include
NIX Beck think can show u am not mistaken)
that the surplus revenue this year Will be nearer
| 500 900. 900 than $l5,OOO0OO.
| MI Telcr--Witbout regard to the Sinking Fund.
Mr.. Beck-Thero ia no such thing as Sinking Fund
and there cannot be without absolutely giving away
| our money TO enhance the price OF bonds.
Mr. Teller said that he had been educated TO under
stand that plain words OF statute we're not to be
srued away. There was in the treasury OF the nted
States IA large amount OF money that WAS not needed
| there and if the executive department had no
authority TO pay out then the responsibility should
be laid at the door OF tho legislative department.
There were plenty opportunities wise opportunities,
to pay OF the Treasury the OF that
was now there and all that would In neat year
even if there should be surplus OF ninety nine mill
ions. 4 few.Gays ago the Admiral OF the Navy had
sent to "A distinguished member OF the House n letter
III which the astounding statement was made that the
| United States Government had got only snip that
could three months 40 service and that that ship
| had ony one single gun. The Dol phin was the only
| AT he lioycruucut pD viii
to sea within three months And yet some persons
| wore crying out against surplus in the Treasury
The country without Notifications on the coast
| All tho great ports OF tho country coue ho
| Graded by any flth-rate naval power-by Chill
China Japan Spain. Not only that but every city
on the great lakes was equally exposed. Under tho